It’s time, Californians, to hold on to our collective wallets. “It does NOT raise taxes,” proponents of Proposition 68 insist in the official state voters’ guide. Then where do they think the money will come from to repay the $4 billion in bonds that are supposed to go for parks and “climate adaptation,” whatever that is? … The Prop. 68 repayment is $7.8 billion – $4 billion in principal, plus $3.8 billion in interest. That means $200 million a year for 40 years from the state’s general fund.